Americans Are Pushing Up Luxury Real Estate Prices in Paris

Luxury properties in Paris are selling for record prices this year as Americans take advantage of a strong dollar to snap up high-end overseas homes.

The average price of a prime Parisian property — defined as homes that sell for more than 3 million euros ($2.9 million) — rose 9% to 5.47 million euros in the first half of this year from 5 million euros in 2020, according to real estate agency Barnes. With demand surging, the agency is expecting its sales volumes this year to top a record-setting 2021.